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Quorum Announces Acquisition Of Vinn Automotive Technologies Limited

Jun 27, 2023•about 2 years ago

Acquiring Company

Quorum Information Technologies

Acquired Company

Quorum Information Technologies

Professional ServicesProfessional Services

Description

Quorum Information Technologies Inc. (TSX-V: QIS) (OTC Pink: QIFTF) (“Quorum”), a North American SaaS Software and Services company providing essential enterprise solutions that automotive dealerships and Original Equipment Manufacturers (“OEMs”) rely on for their operations, is pleased to announce that it has closed the arms-length acquisition (the “Transaction”) of VINN Automotive Technologies Limited (“VINN”) - New & Used Cars for Sale | VINN. VINN is Quorum’s fifth acquisition in six years and marks another step forward in Quorum’s strategy to be a full-service provider to automotive dealerships.

Company Information

Company

Quorum Information Technologies

About

Quorum is a North American company focused on developing, marketing, implementing and supporting its portfolio of software and services for automotive dealerships that includes: Quorum’s Dealership Management System (DMS) automates, integrates and streamlines key processes across departments in a dealership, and emphasizes revenue generation and customer satisfaction. DealerMine CRM, a sales and service Customer Relationship Management (CRM) system and set of Business Development Centre services that drives revenue into the critical sales and service departments in a dealership. Autovance, a modern retailing platform that helps dealerships attract more business through Digital Retailing, improve in-store profits and closing rates through its desking tool and maximize their efficiency and CSI through Autovance’s F&I menu solution. Quorum Information Technologies Inc. is traded on the TSX Venture Exchange (TSXV) under the symbol QIS. For additional information, please go to QuorumInformationSystems.com.

Company News

(9 articles)

Wed, 28 May 2025 07:00:00 GMT

Quorum Announces Q1 2025 Results and Board Changes - GlobeNewswire

Wed, 02 Apr 2025 07:00:00 GMT

Quorum Announces Q4 and Fiscal Year 2024 Results Release Date, Conference Call and Webcast Details - GlobeNewswire

Fri, 25 Nov 2022 08:00:00 GMT

Quorum Information Technologies is practically a double, says Beacon - Cantech Letter

Wed, 07 Aug 2024 07:00:00 GMT

Quorum Announces Q2 2024 Results Release Date, Conference Call and Webcast Details - GlobeNewswire

Wed, 20 Nov 2024 08:00:00 GMT

Quorum Announces Q3 2024 Results - GlobeNewswire

Wed, 24 Apr 2024 07:00:00 GMT

Quorum Announces Q4 and Year End 2023 Results - GlobeNewswire

Tue, 27 Jun 2023 07:00:00 GMT

Quorum Announces Acquisition of VINN Automotive Technologies Limited - GlobeNewswire

Mon, 19 Sep 2022 07:00:00 GMT

Quorum Announces Sale of Advantage Complete DMS Software - GlobeNewswire

Wed, 12 Feb 2020 08:00:00 GMT

Quorum Announces Q Analytics Reporting and Analysis Tool - GlobeNewswire

FundzWatch™ Score

High M&A Activity

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed